KUALA LUMPUR, Malaysia – Oilfield services provider Bumi Armada Berhad has received a letter of intent from eni Angola SpA, a wholly owned subsidiary of eni SpA. Eni Angola has stated its intention to award a contract for the chartering, operation, and maintenance of an FPSO to a consortium of Bumi Armada Offshore Holdings Ltd. and Angoil Bumi JV Ltda. (an Angolan joint venture company of BAOHL, Angoil Exploracao Petrolifera SA, and Cosmarg Limitada) for deployment at block 15/06 in the East Hub offshore Angola.
The LOI authorizes Bumi Armada to start engineering and procurement work on the FPSO immediately. First oil is scheduled for end of October 2016. The contract has an indicative value of $2.9 billion (equivalent to RM9.5 billion).
This is the second time that eni has turned to Bumi Armada for an FPSO in West Africa, and this project is Bumi Armada’s first VLCC-tanker conversion. The Armada Ali will be used for conversion. The 15/06 FPSO will be delivered in 31 months, taking Bumi Armada’s FPSO fleet to eight.